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The dollar is stable... and Bitcoin has reached a new historical level above 73 thousand
Wednesday 13, March 2024 12:16 | EconomicalNumber of readings: 273
[rtl]Baghdad / NINA / The dollar stabilized against a number of major currencies, during Wednesday’s trading, as traders evaluated the impact that higher-than-expected inflation data could have on the chances of lowering interest rates at the Federal Reserve (US Central Bank) meeting in June.
The US consumer price index rose strongly in February, beating expectations in a sign that inflation is sustainable.
Although the consumer price index rose 0.4 percent in February, in line with expectations, the 3.2 percent year-on-year increase exceeded the expected increase of 3.1 percent.
There was little change in the dollar index, which measures the performance of the US currency against a basket of six currencies, at 102.93.
Against the yen, the dollar remained largely stable at 147.60 Japanese yen after the Japanese currency witnessed its largest decline in a month yesterday, Tuesday, following the slightly weak assessment issued by Bank of Japan Governor Kazuo Ueda of the country's economy.
The yen rose to 147.24 against the dollar as wage news spread on Wednesday, before falling in the afternoon in Asia.
The British pound settled at $1.2787, as well as the euro at $1.0925.
Analysts expect that the European Central Bank will announce on Wednesday the results of discussions on reviewing the operational framework of the European system, which kept interest rates near zero or lower.
The Australian dollar rose 0.09 percent against the US dollar to $0.661. The New Zealand dollar also increased 0.16 percent to $0.616.
In terms of cryptocurrencies, Bitcoin jumped by more than 2 percent to $72,912, after previously recording the highest level in its history at $73,137, and the market value of the most valuable cryptocurrency in the world rose to $1.41 trillion, according to the Coinbase platform.
Ether currency also rose 2.21 percent to $4,038.39./End 9[/rtl]
The US consumer price index rose strongly in February, beating expectations in a sign that inflation is sustainable.
Although the consumer price index rose 0.4 percent in February, in line with expectations, the 3.2 percent year-on-year increase exceeded the expected increase of 3.1 percent.
There was little change in the dollar index, which measures the performance of the US currency against a basket of six currencies, at 102.93.
Against the yen, the dollar remained largely stable at 147.60 Japanese yen after the Japanese currency witnessed its largest decline in a month yesterday, Tuesday, following the slightly weak assessment issued by Bank of Japan Governor Kazuo Ueda of the country's economy.
The yen rose to 147.24 against the dollar as wage news spread on Wednesday, before falling in the afternoon in Asia.
The British pound settled at $1.2787, as well as the euro at $1.0925.
Analysts expect that the European Central Bank will announce on Wednesday the results of discussions on reviewing the operational framework of the European system, which kept interest rates near zero or lower.
The Australian dollar rose 0.09 percent against the US dollar to $0.661. The New Zealand dollar also increased 0.16 percent to $0.616.
In terms of cryptocurrencies, Bitcoin jumped by more than 2 percent to $72,912, after previously recording the highest level in its history at $73,137, and the market value of the most valuable cryptocurrency in the world rose to $1.41 trillion, according to the Coinbase platform.
Ether currency also rose 2.21 percent to $4,038.39./End 9[/rtl]
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